The price of the cheapest Tesla electric car will increase in 2024

In the United States, the Tesla Model 3 still qualifies for the full $7,500 federal electric car tax credit, but not for long.

Cars delivered by December 31 are eligible to receive full credit under President Joe Biden. Inflation Reduction Act (IRA). After that, the tax credit will be “reduced to $3,750 on rear-wheel drive Model 3 and long-range Model 3.” banner on the Tesla website warns.

While the world’s largest electric vehicle maker hasn’t given a reason for the impending decline, it’s likely related to IRA fine-tuning.

Tesla’s most profitable vehicle no longer has to meet delivery requirements, according to the US Treasury Department December 1 guide became stricter in attendance and foreign entity of interest (FEOC) which The Ministry of Energy describes as “owned, controlled, or under the jurisdiction or control” of governments, including China, Russia, North Korea, and Iran.

From 2024, an eligible clean vehicle “must not contain any battery components manufactured or assembled by the FEOC,” the Treasury Department said. The tax credit change suggests that Tesla’s battery materials are out of compliance.

Next year, even more models could be affected. In 2025, an eligible clean car “must not contain critical minerals that have been mined, processed or recycled by FEOC,” notes the Treasury Department.

Tesla and the IRA, by the numbers

$38,990 – $50,990: Price range for Tesla Model 3, from the most basic car to the highest performance, starting in October

1.8 million: Tesla wants to sell cars in 2023. The analyst is forecasting sales just below that number, at 1.797 million, but the recent warning about the tax break could create an avalanche.

60%:To qualify for the reduced $3,750 tax credit, an electric vehicle must have a portion of the value of its battery components manufactured or assembled in North America beginning in 2024.

fifty%: Starting in 2024, the share of value of critical minerals in an electric vehicle battery that must be mined or processed in the US or a country with which it has a free trade agreement, or recycled in North America.

1 million: Global sales of the Model 3 from June 2021, making it the first electric car to reach this milestone.

20 million:Global search volume for the Tesla Model 3 last year, when it was the most searched electric vehicle in the world. The Tesla Model Y, a crossover SUV based on the Model 3 chassis that has become the company’s best-selling carin 2022, it accumulated less than 14 million searches.

More than half: Some of the interior and exterior design of the Model 3 was replaced in the recent facelift, according to Tesla. It includes including a refreshed interior, rear-seat entertainment and increased range. The new Model 3 was launched in the UK, Germany, Australia and Chinabefore driving to your US territory..

548: Tesla green jobs recently listed on LinkedIn: the most of any US company, according to

Person of Interest: Elon Musk

If there’s one major obstacle in Tesla’s path to success, it’s ironically the company’s founder.

Ever since Tesla CEO Elon Musk bought and took over Twitter (now scattered leadership and Sale of Tesla shares They damage the brand of electric cars. His frequent excuses about damaged Tesla’s reputationconverting some owners and potential buyers against the car manufacturer.

After almost four years of preparation, finally Tesla hosted a launch party for himthe highly anticipated Cybertruck last week. New vehicle ruffled a few feathers with a price higher than expected and a range lower than expected. In addition be a disappointmentCybertruck took a backseat to Musk’s antics.

Around the same time, Musk told advertisers to stay away from X at the New York Times conference. His raunchy commentary drew 1.3 million readers, while Cybertruck News got fewer than 886,000, according to an analysis public relations measurement platform Memo shared with Quartz.

“Tesla’s big Cybertruck event was completely overshadowed when Elon Musk told advertisers to ‘Fuck’ on Twitter. In fact, most people read specifically about the fall of a famous CEO and how the fallout will negatively affect the once-thriving social media platform,” said Katrina Dene, Director of Communications at Memo. “In the same week, it’s very clear that Tesla is paying Elon’s tax.”

This content has been automatically translated from the original material. Due to the nuances of machine translation, there may be slight differences.

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